Marcus savings rate up

Arthurian

Previously 1.55%, underlying rate, is going up to 1.75% underlying rate on 18th October.  The bonus rate on top of that is 0.25%, making the new rate 2% in total.

Eirambler

Have literally almost emptied my Marcus account earlier this morning as it happens.

Thought they'd increase it by more to be honest, a 0.2% rise isn't going to change much when there's quite a few better options out there now.

[Deleted User]

Arthurian said:

Previously 1.55%, underlying rate, is going up to 1.75% underlying rate on 18th October.  The bonus rate on top of that is 0.25%, making the new rate 2% in total.

Won't attract savers with Santander offering 0.75,pc more.

Arthurian

Yes, Santander esaver is more tempting.

subjecttocontract

Marcus easy acces at 2% is nowhere near good enough for anyone except those to lazy to move elsewhere. 
I wouldn't be surprised if there is another Marcus rate rise very, very soon.

jak22

Its not really a rate to attract new deposits but they are still looked on positively - they get their own thread for a small rise for example - so it may be enough to keep existing savers from moving. There are still people mentioning they are only now moving from Chase.

Daliah

Even 2% is a bit of a non-event now.

pearl123

Great bank, but the rate is still too low. 

jaypers

Too little, too late. My balance is now £1.

SpanishBlue

I'm another one who emptied my Marcus account recently (except the obligatory £1) and moved it all over to Santander's Esaver 2.75% account.

Cynergy have also matched Santander so a very poor response from Marcus.

The_Green_Hornet

My balance is £0.

Marcus only classifies an account as dormant if it hasn't been accessed for 15 years.